Wall Street Zen Upgrades Fossil Group (NASDAQ:FOSL) to “Buy”

Fossil Group (NASDAQ:FOSL) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research firms have also recently weighed in on FOSL. Maxim Group began coverage on shares of Fossil Group in a report on Tuesday, July 1st. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.00.

Fossil Group Stock Down 9.8%

FOSL stock opened at $2.38 on Friday. The stock has a market capitalization of $128.00 million, a P/E ratio of -2.14 and a beta of 2.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. Fossil Group has a 1-year low of $0.86 and a 1-year high of $4.40. The business has a fifty day moving average price of $2.82 and a 200-day moving average price of $1.89.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Wednesday, August 13th. The accessories brand company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.11. The company had revenue of $220.40 million during the quarter, compared to the consensus estimate of $198.04 million. Fossil Group had a negative return on equity of 12.07% and a negative net margin of 5.49%.

Institutional Trading of Fossil Group

Several large investors have recently added to or reduced their stakes in FOSL. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Fossil Group by 85.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 224,530 shares of the accessories brand company’s stock valued at $258,000 after buying an additional 103,203 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Fossil Group by 356.9% in the 1st quarter. American Century Companies Inc. now owns 129,025 shares of the accessories brand company’s stock worth $148,000 after purchasing an additional 100,783 shares in the last quarter. Nantahala Capital Management LLC increased its stake in shares of Fossil Group by 25.9% in the 1st quarter. Nantahala Capital Management LLC now owns 4,189,177 shares of the accessories brand company’s stock worth $4,818,000 after purchasing an additional 862,500 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Fossil Group by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock worth $166,000 after purchasing an additional 43,849 shares during the period. Finally, Jane Street Group LLC lifted its position in Fossil Group by 93.1% during the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock valued at $49,000 after purchasing an additional 20,530 shares in the last quarter. 61.14% of the stock is currently owned by institutional investors.

About Fossil Group

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company’s products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.